Arkansas Gov. Mike Beebe joined Southwestern Energy Co. (NYSE: SWN) employees on Oct. 1 in Conway to celebrate the company’s 10 year anniversary in the Fayetteville Shale play.
Southwestern Energy is credited with being the first to discover the economic viability of the play and produce its natural gas. Since drilling its first successful well in 2004, the Houston-based company has produced more than 3.6 trillion cubic feet (Tcf) of natural gas from the Fayetteville Shale in north central Arkansas—486 billion cubic feet (Bcf) in 2013 alone.
“This is certainly a milestone in the development of the play, and I’m proud of our role in its discovery and production,” said Steve Mueller, president and CEO of Southwestern, in a statement. “Our work in the Fayetteville Shale play has helped make us a stronger company and put the state on the map as a major contributor to the country’s energy supply.”
Mueller added that as advancements in technology continue to be made, Southwestern and other companies are able to drill in less time and focus on opportunities to exceed production expectations.
In addition to the anniversary of the Fayetteville Shale, Southwestern also marked five years in Pennsylvania’s Marcellus Shale in October.
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